IndoorAtlas to Position Well for $10M

September 04, 2014

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Positioning and indoor location technology provider IndoorAtlas has reached an agreement to receive $10 million in funding from Baidu, a Chinese search engine company. IndoorAtlas' technology utilizes built-in magnetometers in smartphones to detect anomalies in the geomagnetic field, helping users reliably navigate indoor spaces. The company received $4.5 million earlier this year in a round led by Mobility Ventures and KoppiCatch.